Cathy Weatherford, the president and CEO of the Insured Retirement Institute (IRI), spoke today at a White House symposium to recognize World Elder Abuse Awareness Day. In her keynote address, Weatherford discussed the effects of financial exploitation on retirement planning and highlighted efforts made by financial services organizations to address the exploitation of elders.

"We are committed to the consumers we serve each and every day," she said. "The very last thing we want to see happen is for any bad actor to surreptitiously erase a lifetime of savings—the very act that can create financial ruin for an older American—in the blink of an eye. We view our relationships with our clients as a lifelong partnership, and we are committed to protecting them from exploitation."

World Elder Abuse Awareness Day is June 15. Weatherford's remarks were delivered during the symposium's closing session, along with Kathy Greenlee, assistant secretary for aging and administrator for the Administration for Community Living, and Hubert Humphrey III, assistant director of the Office of Older Americans at the Consumer Financial Protection Bureau.